INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against Petróleo Brasileiro S.A. − Petrobras

LOS ANGELES--(BUSINESS WIRE)--

Glancy Binkow & Goldberg LLP reminds investors of Petróleo Brasileiro S.A. − Petrobras (“Petrobras” or the “Company”) PBR that purchasers of Petrobras American Depositary Shares between January 7, 2010 and November 26, 2014, inclusive (the “Class Period”), have until February 6, 2015, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. Investors who have losses of $3 million or more are encouraged to contact the firm for more information.

Petrobras operates as an integrated oil and gas company engaged in the exploration, development, production and sale of crude oil, natural gas liquids and natural gas in Brazil and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that: (1) the Company was overpricing certain contracts related to its refineries and operations, and accepting kickbacks from some companies approved for those contracts; (2) as a result, the Company was overcharging its property, plant and equipment assets on its balance sheet; (3) the Company's directors and employees accepted bribes from third-party contractors to win contracts with Petrobras; (4) the Company's internal controls were inadequate; and (5), as a result of the foregoing, the Company's statements were materially false and misleading and/or lacked a reasonable basis.

If you are a member of the Class described above, you may move the Court no later than February 6, 2015, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you suffered losses of $3 million or more and wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

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